The Crypto Report
Popular cryptocurrency exchange Coinbase is one step closer to trading coins as securities.
The platform has been given the okay by US Securities and Exchange Commission and the Financial Industry Regulatory Authority to proceed with the acquisition of Keystone Capital Corp, Venovate Marketplace Inc and Digital Wealth LLC, according to a Bloomberg report.
The acquisitions will allow the firm to operate as a broker-dealer, offering security tokens while being subject to federal oversight.
The exchange is exploring allowing users to trade five new digital coins: Cardano, Basic Attention Token, Stellar, Zcash and Ox.
READ: Daily CryptoCann Report: IBM signs US$740mln blockchain deal with Australia’s government; Sweet Leaf loses all of its cannabis licenses
The tech giant is partnering with fintech start-up Stronghold to launch a cryptocurrency attached to the US dollar, according to a CNBC report.
Known as “Stronghold USD,” the digital token aims to reduce volatility by connecting itself to a government-backed currency.
The digital currency will be backed by Federal Deposit Insurance Corporation-insured US dollars and reserved will be held by Prime Trust, a blockchain-centric asset manager.
Known as the Oracle Blockchain Cloud Service, the platform is designed to track transactions and goods through global supply chains, as per Oracle’s press release.
“Blockchain promises to be one of the most transformative technologies of our generation,” said Amit Zavery, executive vice president of Oracle Cloud Platform.
Arab Jordan Investment Bank, CargoSmart, Indian Oil and TradeFin have adopted an earlier version of the service.
The Cann Report
Up north, Aphria Inc (TSX:APH, OTCMKTS:APHQF) is expanding into Latin America and the Caribbean.
The Canadian cannabis company announced plans to acquire assets in Colombia, Argentina, Jamaica and Brazil through a share purchase agreement with Scythian Biosciences Inc, as per a company press release.
Aphria will acquire 100% of the shares of LATAM Holdings Inc, a subsidiary of Scythian, for an undisclosed price.
Shares of the Ontario-based company were down more than 2.5% to C$10.63 in Tuesday afternoon trading.
READ: Crop Infrastructure Corp tenant at The Park in Washington state expects harvest within six weeks
Back in the States, a Canadian cannabis company is expanding into the Nevada market.
C21 Investments Inc (CNSX:CXXI) is making its latest move into the US marijuana market through its US$50mln acquisition of Silver State Relief and Silver State Cultivation.
Last month, the Vancouver-based company acquired Swell Companies, a marijuana extraction company in Oregon.
The company said it plans to spend an additional US$10mln on expansion into Nevada.
Shares of C21 fell more than 10% to C$2.05 in Tuesday afternoon trading.